Real estate trade records significant drop in 2017

AMMAN — Trade volume in the Kingdom’s real estate market in 2017 reached JD6.062 billion, dropping by 14 per cent when compared to 2016's total of JD7.057 billion, the Department of Land and Survey (DLS) announced on Sunday.

Northern Amman registration office ranked first with trade volume of JD1.262 billion, followed by central Amman registration office with JD792 million, while eastern Amman and southern Amman offices saw a trade volume of JD701 million and JD644 million, respectively, the Jordan News Agency, Petra, reported, citing a DLS statement. 

Trade volume at Amman offices and the DLS headquarters amounted for 71 per cent of the Kingdom's trade, totalling JD4.289 billion.

DLS revenues in 2017 stood at JD310.5 million, going down from JD333 million it collected in 2016, marking a 7 per cent decrease. 

A total of 2,775 real estate transactions were filed by non-Jordanian investors, 2,060 of which involved apartments and 715 lands.

Iraqis topped foreign investors in the real estate market with a total value of JD157.2 million, amounting for 49 per cent, followed by Saudis whose trade volume totalled JD63.4 million or 20 per cent, while Syrians ranked third with JD18.1 million that equalled 

6 per cent.